Toronto-Dominion Bank (TD) has launched a new suite of intelligent, personalized real-time information in its mobile app to meet customer banking needs.
Intuitive Mobile App Experiences
TD has added new digital information to the TD app that provides customers with self-serve options based on their transaction histories.
This information translates into proactive advice that helps customers intuitively complete a transaction without having to search the app or go to another site.
The bank also enhanced the mobile experience with digital intelligence that supports TD Direct Investing customers when opening a new account by forecasting data based on their investing activity.
By 2022, TD expects to have digital intelligence enabled for more than 30 use cases. (See Analysts’ Top Stocks on TipRanks)
“At TD, we recognize the importance of creating personalized and meaningful banking experiences for our customers, however they choose to bank” said Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank Group.
“We want to empower our customers who are using digital properties with insights that are actionable and tailored to their needs.”
Wall Street’s Take
On December 3, BMO Capital analyst Sohrab Movahedi kept a Hold rating on TD while raising its price target to C$105 (from C$94). This implies 10.2% upside potential.
Movahedi stated that company’s fourth-quarter earnings beat consensus expectations of falling credit costs, also citing TD’s “solid” balance sheet and best-in-class core equity tier 1 ratio of 15.2%. The analyst added, however, that interest rate uncertainty and fee revenue risks in the U.S. retail market remain headwinds in the near term.
Overall, TD scores a Moderate Buy rating among Wall Street analysts based on six Buys, four Holds and one Sell. The average Toronto-Dominion Bank price target of C$107.08 implies 12.4% upside potential to current levels.
TipRanks’ Smart Score
TD scores a “Perfect 10” on TipRanks’ Smart Score rating system, indicating that the stock returns have strong chances to beat the overall market.
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